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Closed everything. SPY @ 129. SH @ 40.09.

Stop moved to 128.50.

All the indices had huge gap ups.

Stop moved to 128.

Gap up! Good thing I didn't sell those covered calls. lol. Stop order to close entire SPY position at $127.50. Current price $128. Normally I don't use stop order but this huge gap has me perplexed.

Say on the 10/1 you buy 100 shares at $15 and on 10/2 you sell a covered call with a strike price of 20. Say on 10/3 you buy 100 more shares at $17 and on 10/4 you sell a covered call with a strike price of 25. Say on options expiration day price closes at $23, so the first call gets...

How do you know it's unlikely that YHOO will go below $14.60? Can you predict price direction?

10/26 SPY $4,332.00 hedge -$2,224.60 Net for this trade: $2,107.40 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $16,175.89

I may be selling some covered calls soon. Or I may just close the whole thing out. I'm nowhere near my profit target but I'm not so happy with how I spaced out the buys on this trade and I don't like that SPY has to drop to 105 again before I'm going to buy anymore. That's like 20 points of...

10/25: SPY -$2,793.00 hedge -$1,934.20 Net for this trade: -$4,727.20 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $9,341.29

Interesting and unique, I will give him that.

watching

10/24: SPY $11,115.00 hedge -$2,482.00 Net for this trade: $8,633.00 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $22,701.49

SERIOUSLY. That's what I said 2 months ago when everyone was freaking out. http://www.elitetrader.com/vb/showthread.php?s=&threadid=225023

Nice affiliate link, abunofads-20. The OP was not looking for reviews, he just wanted you to click that link so you would get a tracking cookie for his affiliate account and then if you buy that book (or anything else) from amazon in the next 24 hours, he gets a commission. Pretty sneaky...

That is the kind of review that really helps, I think. I hate reviews that are like "I liked this book." Really? Thanks, that helps so much! I'm gonna buy 5 copies! This review is awesome. Not only does it say the book sucks, but it gives specific examples of why it sucks so you know...

10/21: SPY $2,451.00 hedge -$2,119.00 Net for this trade: $332.00 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $14,400.49

10/20: SPY -$10,716.00 hedge -$1,577.80 Net for this trade: -$12,293.80 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $1,774.69

10/19; SPY -$13,737.00 hedge -$1,472.20 Net for this trade: -$15,209.20 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ -$1,140.71

10/18: SPY -$5,472.00 hedge -$1,808.80 Net for this trade: -$7,280.80 (unrealized) $1,223.60 (realized) $2,931.69 (realized) $1,129.72 (dividend) $3,561.93 (estimated dividend) $5,221.55 (realized) ------------------------ $6,787.69